The U.S. economy accelerated at the start of 2026, expanding at a modest 2% pace from January through March after recovering from last fall’s 43-day federal government shutdown. But the outlook is clouded by the Iran war.
Jerome Powell said Wednesday that he will continue to serve on the board of governors of the Federal Reserve after his chairmanship of the central bank ends next month.
As Defense Secretary Pete Hegseth faces questioning from lawmakers Wednesday for the first time since the Trump administration launched the war against Iran, his department admitted that the Iran war has cost an estimated $25 billion to date.
